0 is to be amortized by equal payments at the end of every quarter for 2 years. If the interest charged is 12% compounded semi-ann
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
A debt of P120,000 is to be amortized by equal payments at the end of every quarter for 2 years. If the interest charged is 12% compounded semi-annually, find the outstanding principal after each payment is made. Construct an amortization schedule.
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